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Copyright © 2012 Levi & Korsinsky, LLP
New York
Washington, DC
| Metabolix, Inc. |
| Metabolix, Inc. (Nasdaq: MBLX) shareholder litigation in connection with alleged securities fraud |
Levi & Korsinsky announces that a class action
lawsuit has been commenced in the United States
District Court for the District of Massachusetts on
behalf of investors who purchased Metabolix, Inc.
(“Metabolix” or the “Company”) (Nasdaq: MBLX)
common stock between March 10, 2010 and January
12, 2012.
lawsuit has been commenced in the United States
District Court for the District of Massachusetts on
behalf of investors who purchased Metabolix, Inc.
(“Metabolix” or the “Company”) (Nasdaq: MBLX)
common stock between March 10, 2010 and January
12, 2012.
The Complaint alleges that during the Class Period, Metabolix and certain officers of the Company
made materially false and misleading statements and omissions regarding Metabolix’s business and
operations. Specifically, the Complaint alleges that Telles LLC, the Company’s joint venture with
Archer-Daniels-Midland (ADM), would not meet its commercial phase benchmark by mid-2010 or
even in 2011; this benchmark would have allowed Metabolix to receive royalty payments and
payments from Telles services. Furthermore, the complaint alleges that Metabolix failed to
acknowledge that its bioplastic known as Mirel was not a commercially viable product.
In a January 12, 2012 press release, Metabolix announced the termination of its joint venture with
Telles, LLC. Upon this release, shares of Metabolix fell from a closing price of $5.99 on January 12,
2012 to a closing price of $2.54 the following day.
If you suffered a loss in Metabolix you have until April 17, 2012 to request that the Court appoint
you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead
plaintiff.
made materially false and misleading statements and omissions regarding Metabolix’s business and
operations. Specifically, the Complaint alleges that Telles LLC, the Company’s joint venture with
Archer-Daniels-Midland (ADM), would not meet its commercial phase benchmark by mid-2010 or
even in 2011; this benchmark would have allowed Metabolix to receive royalty payments and
payments from Telles services. Furthermore, the complaint alleges that Metabolix failed to
acknowledge that its bioplastic known as Mirel was not a commercially viable product.
In a January 12, 2012 press release, Metabolix announced the termination of its joint venture with
Telles, LLC. Upon this release, shares of Metabolix fell from a closing price of $5.99 on January 12,
2012 to a closing price of $2.54 the following day.
If you suffered a loss in Metabolix you have until April 17, 2012 to request that the Court appoint
you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead
plaintiff.
